Hornbill Unleashed

June 23, 2017

BNM to provide information to Royal Commission on forex losses

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

BNM says it will provide information as required by the law, to the Royal Commission of Inquiry, related to forex market losses. — Picture by Yusof Mat IsaBank Negara Malaysia (BNM) will extend its full cooperation to the Royal Commission of Inquiry (RCI) in providing information relating to foreign exchange (forex) market losses.

In a statement today, BNM said, it will provide information as required by the law.

BNM welcomed the formation of the RCI by the government to independently investigate the forex losses and put to rest the events that occurred over 25 years ago.

“It is important to note that in any country, the legitimacy, integrity and credibility of the central bank is paramount in preserving public confidence in maintaining a sound financial system and a stable economy,” BNM said.

The central bank said it would like to assure the public and the financial market that it shall not be distracted from discharging its national duty in delivering its mandates.

“We shall be steadfast in safeguarding the nation’s monetary and financial stability, as well as the smooth functioning of the payment systems,” BNM said.

Source : The Malay Mail Online by Bernama


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